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And the Sports Direct billionaire does not want to work with King, who ousted him from the board two years ago – although he remains a significant shareholder with just under nine per cent of the stock.

Dave King is the current chairman of Rangers (Image: Danny Lawson/PA Wire)

However, a large section of the Rangers support will be enraged at the thought of Ashley returning to take charge of their club.

Some fans still refuse to buy club merchandise because of the terms of the deal negotiated with Sport Direct that sees only a small percentage of money returned to Rangers from the sale of strips.

The present regime were able to seize control thanks to the support of the vast bulk of the fans who will view Ashley's latest plan as a hostile takeover.